You can hire the best employees in the world, but if you’re not supporting them and providing them with growth opportunities, then they aren’t going to give you the best performance. As in a sport’s team, the athletes are given all of the tools they need to play their best, like personal trainers, physical therapy and proper nutrition. Think of your employees as the star athletes of your team and treat them as such. Employee development initiatives are an essential part of running a business and benefit your company in three main ways.
You reap the benefits by maximizing the potential of your top-performing employees
The key players on any given team are the ones that progress your company forward and inspire growth. Your key players also require the most effort to onboard because of how important they are to your organization. This means it’s a managers responsibility to make sure they have everything necessary to perform their job well. A lot of companies think that because they spent all this time onboarding a great employee, they don’t need to do any further development. Even though an employee is already great to start with, that doesn’t mean they don’t need any further development.
Investment in employees inspires loyalty
The greatest benefit an organization can provide to its employees is allowing them to realize their full potential. Companies that help an employee do so will benefit in two ways: one, the employee will perform better because they realized how capable they are and two, they feel more loyal to the company. If an employee feels that their company is loyal to them, then they’ll return that by being faithful to the company. This results in a lower turnover rate and less money spent on training and developing replacements for the lost employment.
It’s worth the investment
It’s true that hiring mentors and leadership coaches aren’t something that comes cheap. But, it’s an investment that is worth the cost. When this type of support system is correctly implemented, it lessens the need to hire more than one person to complete the same job. It also helps your employees feel more motivated in the workplace and allows for more work to be completed. Spending money upfront to support your employees will, in turn, save you money in the long run by increasing loyalty, eliminating redundancies and increasing your work output.